Don't be deterred by returns, valuations: Motilal Oswal

At a time when most market participants are talking about the return of the beaten down sectors in 2013, Raamdeo Agrawal, joint managing director, Motilal Oswal, says one should be buying companies that have "the license to make money". Strong business franchises, monopoly brands and top market share are things he would look out for while picking stocks. His top sector bets are consumer names, PSU banks and the media space.